Since February, Zagame has added 2 per cent to his Asia position to make up a 6 per cent overweight in Asia, taken away 3 per cent from the US to a more underweight position of 5 per cent and moved from an underweight to a neutral position in the UK.

Following FCA chief Martin Wheatley’s concerns around contingent charging, Money Marketing examines who charges what for advice and explores how fee models are set to become a key regulatory battleground.